Markets movements
1. Range
2. Breakout
4. Pullback
5 into a channel
Range - bearish 3 drive
Reversal identified- 3 drive into inverted into real hammer.
Real hammer? Snub nose ( lil upper shadow) bull hammer with longer wick than body
Don’t trade breakout! Why? Most fail at the pullback phase. ( if successful)here yes WHY? long legged doji before breakout confirms the move as doji are indecisiveness candles a breakout afterward shows a decision was made .Trade the channel
Channel- take the high and low from the breakout phase trendline it buy the first lower test off of the 20ema with momentum! If these are not there- no trade! Why? Most reversal fail. And turn into a m pattern.
These are the steps to be a price action trader.
It’s a long journey but those who made it can surgical a chart with the bare eyes and bar for bar ..
It’s a journey worth journeying..
Are you working toward it ?
HOW TO TRADE LIKE THEM-
1. Range
2. Breakout
4. Pullback
5 into a channel
Range - bearish 3 drive
Reversal identified- 3 drive into inverted into real hammer.
Real hammer? Snub nose ( lil upper shadow) bull hammer with longer wick than body
Don’t trade breakout! Why? Most fail at the pullback phase. ( if successful)here yes WHY? long legged doji before breakout confirms the move as doji are indecisiveness candles a breakout afterward shows a decision was made .Trade the channel
Channel- take the high and low from the breakout phase trendline it buy the first lower test off of the 20ema with momentum! If these are not there- no trade! Why? Most reversal fail. And turn into a m pattern.
These are the steps to be a price action trader.
It’s a long journey but those who made it can surgical a chart with the bare eyes and bar for bar ..
It’s a journey worth journeying..
Are you working toward it ?
HOW TO TRADE LIKE THEM-
